|
Small Business Awards
SBA honored David J. Grant of Metalcraft Technologies Inc., a manufacturer of aircraft parts,
as Utah’s 1998 Small Business Person of the Year. Bernadette Martinelli of Park City Women’s Business Network, an organization that provides support and mentoring to women entrepreneurs, was named Women in Business Advocate of the Year. Ms. Martinelli, in turn, honored Utah by winning the Women in Business Advocate of the Year award for the entire country in competition with winners from all 50 states.
Other award recipients included Justin Selman,* Young Entrepreneur; "B" Murphy,* Minority Advocate; Marilynn Gardner & Kathy Ricci, Financial Services Advocates; Jeffrey S. Sims, Exporter of the Year; Holly Carlin, Welfare-to-Work Associate; Michael Moonbird, Welfare-to-Work Entrepreneur; Robyn Kratzer, Media Advocate; Diane Kirk, Advisory Council Award; Roger Pusey, District Director’s Award; and Richard Perez, Volunteer Award. *Also won region-wide competitions.
Business Information Center
During FY98, the Business Information Center (BIC) served 2,486 clients. 60% of clients represented "new markets" (women and minority-owned businesses); 64% of clients sought information on how to start a business.
A partnership with American Express Centurion Bank now permits the BIC to remain open evenings and on Saturdays accommodating persons who work during business hours.
Minority Small Business
During FY98, 8(a) contracts and loans to 8(a) contractors added $33.2 million to Utah's
minority small business community. Currently, 30 Utah firms, owned by members of all major minority groups, participate in the 8(a) program. 9 of the 30 firms are women-owned.
SBA and the Salt Lake Chamber of Commerce honored Bo Chung, Jr., as Minority Small Business Person of the year and Peggy Dixon as 8(a) Contractor of the Year.
Legal Division
Utah District Counsel, Nick Newbold, chaired a nationwide taskforce to redraft SBA’s promissory note and guarantee into plain English. The Agency has now distributed the new
note and guarantee for nationwide use.
THE YEAR AT A GLANCE
8a Contracts Approved
| Number |
74 |
81 |
+9% |
| Amount |
$24M |
$28M |
+17% |
7(a) Loans Approvals
| Number |
500 |
458 |
-8% |
| Amount |
$106M |
$89M |
-16% |
| % PLP |
21% |
15% |
|
| % LowDoc |
21% |
19% |
|
504 Loan Approvals
| Number |
155 |
209 |
+35% |
| 504 Loan Amount |
$49M |
$63M |
+29% |
| Project Amount |
$130M |
$183M |
+41% |
Total 7(a) and 504 Loans
| Number |
655 |
667 |
+2% |
| Amount |
$155M |
$152M |
-2% |
Top Volume Lenders
|
7(a) Number of Loans
|
First Security Bank
|
|
7(a) Loan Amount
|
Guardian State Bank
|
|
504-Number & Dollar Amount
|
Guardian State Bank
|
"New Market" Loans
| Number |
174 |
162 |
-7% |
|
Amount
|
$35M |
$30M |
-14% |
-
*Loans to Women & Minority-Owned Businesses
Small Business Set-asides
| Utah Federal Contracts |
$232M |
$223M |
-4% |
Total SBA-Utah Impact
| 8(a) Contracts |
$24M |
$28M |
+17% |
| 7(a ) Loans |
$106M |
$89M |
-16% |
| 504 Project Amount |
$130M |
$183M |
+41% |
| Contract Set-asides |
$232M |
$223M |
-4% |
| TOTAL |
$491M |
$523M |
+7% |
|
7(a) LOAN APPROVALS
|
| First Security Bank |
68 |
$9,818,047 |
| Zions First National Bank |
60 |
$10,870,722 |
| Bank One, Utah, NA |
54 |
$4,713,253 |
| Guardian State Bank |
50 |
$17,834,000 |
| First Nat’l Bank of Layton |
32 |
$9,150,000 |
| Far West Bank |
28 |
$2,838,000 |
| Draper Bank and Trust |
22 |
$3,648,500 |
| American Invest. Financial |
21 |
$7,942,250 |
| Key Bank of Utah |
20 |
$3,528,900 |
| Western Bank |
16 |
$4,781,250 |
| Bank of Utah |
14 |
$2,762,200 |
| Orem Community Bank |
9 |
$774,700 |
| Brighton Bank |
8 |
$814,000 |
| State Bank of So. Utah |
7 |
$780,000 |
| American Bk of Commerce |
6 |
$778,500 |
| US Bank NA |
6 |
$1,451,000 |
| First Commerce Bank |
5 |
$411,000 |
| The Money Store |
5 |
$1,500,000 |
| Utah Independent Bank |
5 |
$1,475,500 |
| Bank of American Fork |
4 |
$416,800 |
| The Village Bank |
4 |
$281,479 |
| Associates Commercial Corp |
2 |
$105,000 |
| AT&T Small Bus. Lend. Corp |
2 |
$292,500 |
| Cache Valley Bank |
2 |
$305,000 |
| Emergent Business Cap.,Inc |
2 |
$873,000 |
| Wells Fargo Bank, NA |
2 |
$155,000 |
| America First Credit Union |
1 |
$88,000 |
| Commercial Capital Corp. |
1 |
$170,000 |
| Home Credit Bank |
1 |
$400,000 |
| Norwest Bank Montana NA |
1 |
$83,258 |
| TOTAL |
458 |
$89,041,859 |
|
504 LOAN APPROVALS
|
| N. Utah Capital |
38 |
$10,290,800 |
$30,210,883 |
| Deseret CDC |
171 |
$52,257,000 |
$152,737,321 |
| TOTAL |
209 |
$62,547,800 |
$182,956,114 |
|
LOANS BY COUNTY
|
| Beaver |
5 |
$1,174,000 |
| Box Elder |
10 |
$2,101,000 |
| Cache |
24 |
$5,210,000 |
| Carbon |
8 |
$1,492,000 |
| Davis |
68 |
$13,152,000 |
| Duchesne |
2 |
$129,000 |
| Emery |
4 |
$651,000 |
| Garfield |
3 |
$746,000 |
| Grand |
4 |
$1,159,000 |
| Iron |
10 |
$1,926,000 |
| Juab |
4 |
$1,542,000 |
| Kane |
2 |
$216,000 |
| Millard |
5 |
$889,000 |
| Morgan |
2 |
$164,000 |
| Piute |
1 |
$237,000 |
| Rich |
0 |
$0 |
| Salt Lake |
278 |
$66,765,000 |
| San Juan |
1 |
$100,000 |
| Sanpete |
4 |
$629,000 |
| Sevier |
6 |
$2,037,000 |
| Summit |
15 |
$3,163,000 |
| Tooele |
6 |
$982,000 |
| Uintah |
5 |
$972,000 |
| Utah |
118 |
$26,460,000 |
| Wasatch |
11 |
$3,944,000 |
| Washington |
21 |
$2,872,000 |
| Wayne |
3 |
$285,000 |
| Weber |
43 |
$11,162,000 |
| Out-of-State Loans |
4 |
$1,440,000 |
| TOTAL |
667 |
$151,599,000 |
|
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